Investing.com – U.S. stock futures pointed to a lower open on Thursday, as investors digested a slew of mixed earnings reports and following disappointing government data on initial jobless claims and gross domestic product.
Dow Jones Industrial Average futures pointed a loss of 0.25%, the S&P 500 futures slipped 0.32%, while Nasdaq 100 futures indicated a drop of 0.28%.
Stock index futures added to losses after government data said that initial jobless claims rose unexpectedly, while a separate report showed that first quarter gross domestic product slowed markedly compared to the preceding quarter.
Exxon-Mobile saw shares slip 0.5% in pre-market trade after it posted a better-than-expected quarterly profit, but reported revenue that fell slightly below expectations.
Consumer goods giant Proctor & Gamble saw shares drop 1.8% after it lowered the high end of its full-year profit forecast, as it planned to trim costs and increase prices to offset rising costs for materials.
Business software developer SAP saw shares tumble 6.7% after its first quarter earnings fell short of results from its main rivals Oracle and IBM.
Starbucks saw shares fall 1.85% after it said rising commodity costs would have a bigger impact on full-year earnings than previously forecast.
Akamai Technologies saw shares plunge 12.2% after it said it expected second quarter revenue of USD270 million, falling short of market expectations for revenue of USD281 million.
On the upside, wireless-carrier Sprint-Nextel saw shares rally 3.5% after its first quarter loss narrowed to USD439 million from USD865 million a year earlier.
The world’s largest fertilizer company Potash Corporation of Saskatchewan saw shares jump 2.5% after it said first quarter net profit nearly doubled, citing stronger prices and increased sales volumes of its fertilizers.
Online auctioneer eBay saw shares climb 2.1% after it reported a 20% increase in first quarter earnings. The company raised it full-year earnings outlook, citing strong gains in both its Marketplace and PayPal businesses.
Also Thursday, Exelon, the largest operator of nuclear plants in the U.S. saw shares add 0.8% after it agreed to acquire power provider Constellation Energy in a deal valued at approximately USD7.9 billion. Constellation Energy saw shares jump 7.3% on the news.
Other stocks in focus included Microsoft and online travel company Expedia, which were both expected to release earnings after Thursday’s closing bell.
Across the Atlantic, European stock markets were mostly higher as Deutsche Bank led gains after reporting strong first quarter results. The EURO STOXX 50 climbed 0.55%, France’s CAC 40 rose 0.45%, Germany's DAX gained 0.4%, while Britain's FTSE 100 edged 0.2% lower.
During the Asian trading session, Japan’s Nikkei 225 Index closed 1.6% higher, rising to the highest level since the March 11 earthquake as companies, including Advantest, Komatsu and Mitsubishi Motors all reported better-than-expected earnings.
Later in the day, the U.S. was to release industry data on pending home sales as well as a report on natural gas inventories.
Dow Jones Industrial Average futures pointed a loss of 0.25%, the S&P 500 futures slipped 0.32%, while Nasdaq 100 futures indicated a drop of 0.28%.
Stock index futures added to losses after government data said that initial jobless claims rose unexpectedly, while a separate report showed that first quarter gross domestic product slowed markedly compared to the preceding quarter.
Exxon-Mobile saw shares slip 0.5% in pre-market trade after it posted a better-than-expected quarterly profit, but reported revenue that fell slightly below expectations.
Consumer goods giant Proctor & Gamble saw shares drop 1.8% after it lowered the high end of its full-year profit forecast, as it planned to trim costs and increase prices to offset rising costs for materials.
Business software developer SAP saw shares tumble 6.7% after its first quarter earnings fell short of results from its main rivals Oracle and IBM.
Starbucks saw shares fall 1.85% after it said rising commodity costs would have a bigger impact on full-year earnings than previously forecast.
Akamai Technologies saw shares plunge 12.2% after it said it expected second quarter revenue of USD270 million, falling short of market expectations for revenue of USD281 million.
On the upside, wireless-carrier Sprint-Nextel saw shares rally 3.5% after its first quarter loss narrowed to USD439 million from USD865 million a year earlier.
The world’s largest fertilizer company Potash Corporation of Saskatchewan saw shares jump 2.5% after it said first quarter net profit nearly doubled, citing stronger prices and increased sales volumes of its fertilizers.
Online auctioneer eBay saw shares climb 2.1% after it reported a 20% increase in first quarter earnings. The company raised it full-year earnings outlook, citing strong gains in both its Marketplace and PayPal businesses.
Also Thursday, Exelon, the largest operator of nuclear plants in the U.S. saw shares add 0.8% after it agreed to acquire power provider Constellation Energy in a deal valued at approximately USD7.9 billion. Constellation Energy saw shares jump 7.3% on the news.
Other stocks in focus included Microsoft and online travel company Expedia, which were both expected to release earnings after Thursday’s closing bell.
Across the Atlantic, European stock markets were mostly higher as Deutsche Bank led gains after reporting strong first quarter results. The EURO STOXX 50 climbed 0.55%, France’s CAC 40 rose 0.45%, Germany's DAX gained 0.4%, while Britain's FTSE 100 edged 0.2% lower.
During the Asian trading session, Japan’s Nikkei 225 Index closed 1.6% higher, rising to the highest level since the March 11 earthquake as companies, including Advantest, Komatsu and Mitsubishi Motors all reported better-than-expected earnings.
Later in the day, the U.S. was to release industry data on pending home sales as well as a report on natural gas inventories.